HMRC Admin 25
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RE: Breaking house chain and CGT
Hi Danielle,
This is not taken into account at this point.
It is only when the house is sold and it is the overall gain for the whole period that is considered.
You can then claim Private Resdience Relief for the period you lived in the property.
Thank you.
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RE: Help with declaring foreign income
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RE: Error in personal details with HMRC
Hi Festim Vata,
WE are sorry for the delay in returning your documents to you.
Please contact us by webchat or phone here:
Income Tax: general enquiries
So we can provide you with an update.
Thank you. -
RE: Impact of Employer's Net Insurance on Adjusted Net Income for Tax Free Childcare Purposes
Hi kygbk21,
If these deductions are taken from your gross pay, and not deducted before your gross pay is calculated, then they would not be factored into your ANI calculation.
Please contact Child Benefit here:
Child Benefit: general enquiries
For more advice.
Thank you. -
RE: Self Assessment for child
Hi Katherine,
To give you the best advice here, we may need to ask your daughter for more information.
Please ask her to contact us by webchat or phone here:
Self Assessment: general enquiries
So we can advise her further.
Thank you.
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RE: MTD for Income Tax - testing phase - unable to sign up
Hi davbut,
You can use this page to check which software works with Making Tax Digital for Income Tax:
Find software that works with Making Tax Digital for Income Tax
Thank you. -
RE: Business mileage from home to various sites
Hi ray,
You should only claim relief for the amount of miles actually travelled.
Read more here
Claim tax relief for your job expenses
Or contact us here:
Income Tax: general enquiries
For more advice.
Thank you.
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RE: PhD stipend + renting a room
Hi andreas
The rent a room scheme would only be applicable to the renting of the room in your property and as such you would only be taxlable on the income that exceeds the rent a room relief of £7,500.
The letting of the parking space would be a separate income source and this business could make use of the £1,000 allowance and you would therefore only be taxable on the income above £1,000.
If you have no other income then you would only be liable to pay tax if your taxable profits from both these sources exceeded the current personal allowance limit of £12,570 per annum.
Please see guidance here:
Tax-free allowances on property and trading income
Rent a room in your home
Thank you. -
RE: Buy to let Scolicitor's fees
Hi iren,
Acquisition costs such as solicitor’s fees will be retained and set against the Capital Gains upon the sale of the property as they are classed as a Capital Expense.
They can not be set against the annual income as an expense.
Further information can be found on our website:
PIM2005 - Deductions: general rules: overview
CG15150 - Expenditure: introduction
Thank you. -
RE: Financial costs
Hi iren,
Please see:
PIM2120 - Deductions: main types of expense: legal and professional costs
Which states 'the expenses incurred in connection with the first letting or subletting of a property for more than one year are capital expenditure and therefore not allowable.
The expenses include, for example, legal expenses (such as the cost of drawing up the lease), agent's and surveyor's fees and commission.
Expenses for a let of a year or less can be deducted.
Thank you.